Morning Report

The dollar versus swissy completed its bullish correction yesterday evening, where the pair needed it to get rid of positive momentum appearing on momentum indicators. We also see from the four- hour chart that minor resistance is around 1.0020; where the pair halted its ascend. In addition, more demanded negative signs are appearing through the stochastic. From here we expect a bearish direction over an intraday basis for today; targeting mainly 0.9840 and requires the daily closing to remain below 1.0125.

The trading range for today is among the key support at 0.9775 and the key resistance at 1.0125.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

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RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 0.9990 targeting 0.9840 and stop loss above 1.0065, might be appropriate.